Animal feed, soybeans exempted from sales tax to stabilise food prices

KUALA LUMPUR: The government has exempted animal feed and raw soybeans from the Sales Tax to help stabilise the prices of essential food items such as chicken, eggs and beef.

The Finance Ministry said in a statement today the decision was based on industry feedback that soybeans are a primary input in animal feed production.

It added that it had taken note of media reports on the implementation of the Sales and Service Tax (SST) on raw materials for animal feed.

For other raw materials used in formulating animal feed, the ministry said that it is studying the issue comprehensively, including through engagement sessions and technical reviews with stakeholders.

“The Madani government remains committed to ensuring a fairer and more sustainable tax policy that supports the competitiveness of the national livestock sector,” it said.

© New Straits Times Press (M) Bhd

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